Markets continue to slide, Rupee opens 3 week low

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Biznextindia: After  Saturday’s  ‘free-fall’, markets have opened marginally lower on Monday with the S&P BSE Sensex dropped by 89.46 points or 0.23% at 39646.07, and the Nifty down 17.20 points or 0.15% at 11644.70. About 354 shares have advanced, 352 shares dropped, and 43 shares are unchanged.

Coal India, IOC, Asian Paints, Indusind bank,HUL, Bharti Airtel, BPCL, LIC Housing Finance are among major gainers on the Indices, while losers are Yes Bank,ITC, HDFC, Heromotocorp,Power Grid, Tata Motors and RIL.

The Asian markets, especially the Chinese stocks stumble on Monday on rising fears of Coronavirus will hit demand in the China, the world’s 2nd largest economy.

Meanwhile, the Indian rupee opened near three week low at 71.65 per dollar on Monday, down 32 paise from Friday’s close of 71.33.

On Saturday’s special session the S&P BSE Sensex had dropped about 1000 points, which was the biggest fall of the index on Budget Day in 11 years. Similarly, and NSE Nifty50 had also plunged by 300 points. The bloodbath in the Dalal Street had wiped out almost 4 lakh crore wealth of the investors.

 

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